Tom Sosnoff

Entrepreneur and skilled options trader Tom Sosnoff gained a lot of fame when he sold his company Thinkorswim to TD Ameritrade. As a co-founder, Sosnoff held large portions of shares and was paid $84 million out of the whole sum. As od 2017, Tom Sosnoff’s net worth is usually estimated between $400 million and $700 million and we know interesting details from his road to riches.

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Tom was born on March 6th, 1957, in New York City. He earned BA degree in Political Science at the University at Albany, SUNY. After graduation, Sosnoff worked in a banking firm Drexel Burnham Lamber and later became a market maker at the Chicago Board Options Exchange. His net worth started to grow fast.

In late 1990’s, Tom Sosnoff was one of the pioneers in online option trading. He and some partners created a software for it, called Thinkorswim. Internet brokerage company TD Ameritrade later paid $606 million in total, $84 going directly to Tom. For revolutionizing investing into stock option trading, Sosnoff surely received a nice sum.

Although he could live the rest of his life in retirement, Sosnoff remained active in the internet investing community. He advocates options trading as a long-term financial strategy for small individual investors. Sosnoff also started Dough, Inc., a company that branches into Tastytrade (online financial network) and Dough (which is a financial technology content aggregator).